National Building’s board proposes dividend freeze for 2023

Logo of National Building and Marketing Co. (NBM)

National Building and Marketing Co.’s board of directors recommended today, March 24, withholding dividends for 2023, the company said in a statement to Tadawul.

This came as National Building will continue undertaking and financing its future projects, in line with its strategy. The company also cited a need to boost its liquidity and financial position, the statement added.

The proposal is subject to the approval of the upcoming general meeting, the date for which will be determined after obtaining the approval of competent authorities.